Regulacje i polityka gospodarcza · 19.09.2002

Affordable Housing Program Amendments

The Federal Housing Finance Board (Finance Board) is amending its regulation governing the operation of the Affordable Housing Program (AHP) to authorize a Federal Home Loan Bank (Bank), after consultation with its Advisory Council, to set aside annually an additional amount, up to the greater of $1.5 million or 10 percent of the Bank's annual required AHP contribution, to assist low- or moderate-income, first-time homebuyers under the Bank's homeownership set-aside program. This increased discretionary funding authority supplements the Banks' current discretionary authority to fund homeownership set-aside programs subject to the $3.0 million or 25 percent allocation cap. The Finance Board also is amending the regulation to increase the maximum subsidy limit per household to $15,000 for homeownership set-aside programs in general. Under the Banks' AHP contribution requirement for 2002, the increased funding authority will enable the twelve Banks to provide an additional $24.0 million to assist 1,600 to 4,800 additional low- or moderate- income, first-time homebuyers. This additional set-aside funding authority complements national housing policy initiatives to broaden first-time ho